In the News: Legacy Insurance Management Act
The February 19 passage of the groundbreaking Legacy Insurance Management Act (LIMA) in Vermont — driven by insurance and reinsurance consultancy Apetrop USA, with assistance from members of Goldberg Segalla’s Global Insurance Services Practice Group — garnered national and international attention in the insurance and business communities.
Highlights of LIMA’s media coverage include:
- “Vermont Introduces Part VII Lookalike,” Insurance Insider, February 25, 2014 (registration required)
- “Vermont Looks to Expand Insurance Industry Success,” Barre-Montpelier Times Argus, February 24, 2014
- “Brattleboro Company Looks to Capitalize on New State Law,” Brattleboro Reformer, February 20, 2014
- “Legacy Insurance Management Act Enacted,” CCH Group, February 20, 2014
- “Vermont Expands Niche Insurance Regulation,” Vermont Public Radio, February 20, 2014
- “Vermont Passes Legacy Transfer Act,” Run Off & Restructuring, February 19, 2014
- “Vermont Establishes Nation’s First Legacy Insurance Structure,” VTDigger.org, February 19, 2014
- “Vermont Looks to Expand Insurance Industry Success,” Associated Press, February 19, 2014
- “Gov. Shumlin Signs First-in-the-Nation Insurance Bill,” Press Office of Vermont Governor Peter Shumlin, February 19, 2014
- “Vermont Passes Landmark Run-Off Bill,” Reactions, February 19, 2014 (registration required)
- “Vermont’s New Law Seeks to Attract Runoff Businesses,” Insurance Journal, February 18, 2014
- “Vermont to Target Runoff Business for Growth,” Business Insurance, February 16, 2014
Additionally, Goldberg Segalla partners James J. Wrynn and Colleen M. Murphy, who worked closely with Apetrop USA President Anna Petropoulos on the development and passage of LIMA, co-authored “LIMA: A New Liability Exit Strategy Comes to the U.S.,” explaining key components of the new legislation, for the firm’s Insurance and Reinsurance Report blog.